8 Tips For Making Your Payment Process More Secure

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A 2016 study revealed that 18 percent of online shoppers who abandoned their purchase at some point in the checkout process, did so because they did not trust the site with their credit card information.

Even using a card at major retailers like Macy’s can result in accounts being compromised. In an age where phishing, skimming, and hacking schemes are on the rise, people are getting their credit card information stolen with a single swipe. Now, more than evert, it is important to not only help your customers be secure but also feel secure, with their purchases from your business.

When you use an ePOS to process payments, you make paying as convenient as possible for your customers. They will spend more money in your shop when they have options aside from cash, but the preservation of their financial and personal information is a top priority. As long as you follow a few simple guidelines, you will not have to worry about security breaches that wipe out your patrons’ bank accounts.

1. Monitor For Suspicious Activity

Staying vigilant for suspicious activity helps you stop an attack before it gets very far. Fortunately, this does not mean watching your computer like a security guard keeping an eye on people in and out of the Tube.

It simply means installing monitoring software that will notify you of any attempted breaks in the system or questionable data activity. Set software to take action automatically, so that you can continue with your day worry-free.

2. Keep System Locked With Strong Passwords

Your grandmother may use your name and birthday as her password to everything, but that does not mean you should too. Employee theft most often involves stealing directly from the company rather than stealing from customers, but employee-to-patron credit card fraud still happens.

Smaller businesses are most vulnerable to being hoodwinked by star employees who earn enough trust to gain the keys to the city so to speak. Don’t leave yourself or your customers vulnerable, and make sure your passwords are strong, switched up regularly, and stored in a place where it they will not be accessed by anyone who should not be able to find them.

3. Regularly Update ePOS Software

Your ePOS software has a team dedicated to ensuring the security of your system at all times. They regularly release security patches that fix vulnerabilities and respond to new modes of attack. The best way to take advantage of everything they do to protect you is to set your system to update automatically.

If you have a more erratic schedule and want control over timing, you can do it manually. Set your system to check for updates regularly and notify you when they become available. Just make sure you run the update as soon as possible. It typically does not take more than a minute or so.

4. Antivirus Software is a Must

Antivirus software is another step to ensuring the privacy of not only your customers’ information but also your business’s. The best antivirus software is comprehensive in its coverage, regularly updates to keep up with constantly shifting attacks, and handles threats automatically.

Do not cut corners when it comes to protecting your system from malware, spyware, or phishing attacks. Make sure your antivirus software is robust and thorough in its coverage.

5. Offer Contactless Payment Options

It seems like contactless payment would open us up to all sorts of fraud and theft opportunities, but it is actually more secure than a swipe or a dip. Tap-to-pay cards contain an antenna that communicates with your payment device and shares a one-time code for payment. No important credit card data is shared, and once the code is used (which is immediately), it is no longer valid.

6. Don’t Connect to External Networks

When you go to a concert, a performance, or anywhere else where you are surrounded by strangers but need to save your seat, do you pull your billfold out of your pocket and lay it down when you need to walk away for a moment? If you need to use the loo at a coffee shop, do you hand your purse to a stranger and ask them to hang on to it for you?

This is essentially what you are doing when you connect to any network that does not belong to you. You have taken measures to ensure your own network is secure, but you have no idea if the owner of another network has taken the same precautions or not. Additionally, cybercriminals set up phony networks for the sole purpose of stealing information.

Always ensure you are connecting to a secure account that belongs to you or someone you know you can trust.

7. Better Safe Than Sorry

When it comes to security for your business and your customers, it is almost impossible to be over-the-top. If you want to make sure your customers are and feel safe, you need to take every precaution possible and be open about it with your customers, too. If you use Norton Antivirus software, make sure their seal is included on your checkout page and next to your system so customers know you are just as concerned about their information security as they are.

Offer them contactless pay so they have the safest, most up-to-date options available. Give your customers the satisfaction of knowing they can always trust your business to protect their privacy and give them yet another reason to keep coming back.

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John is a serial entrepreneur and writer who is passionate about helping small businesses launch and grow. His work has been featured in Huffington Post, Entrepreneur, and Forbes.